Simon Hartley

Directors' fees have kept apace of inflation during each of the past three years, but two-thirds of organisations surveyed are considering a fee freeze during the coming year.

Dunedin-based listed company Scott Technology is set to purchase an Auckland company, for less than $1.5 million, further underpinning its niche gold reference materials division.

Australian-listed Origin Energy, whose South Island oil exploration partner includes Anadarko Petroleum Corp, is expected to announce within three weeks if it will go ahead with test drilling for oil and gas off the coast of Dunedin.

Award-winning GPS mapping company TracMap has launched a third application targeting satellite coverage of contractors' vehicles working for councils in the utilities sector.

Shares in internet-based accountancy software company Xero spiked 17% yesterday on the back of a $2 million investment by Trade Me founder Sam Morgan, which boosted his stake to almost 5%.

A dramatic decline in the number of livestock processed has contributed to a 70% decline in last year's after-tax profit reported by Southland meat company Blue Sky Meats.

Profit-taking and a weakening of global gold prices are likely behind the 10% decline in Oceana Gold Corp shares.

Collapsed Signature Homes franchises around New Zealand have left more than 450 unsecured business creditors out of pocket by more than $4.5 million during the past five years. Otago Daily Times Business Reporter Simon Hartley asks the parent of the franchised companies, Signature Homes Ltd and its managing director Gavin Hunt, about its business model for franchisees.

Jennian Homes Otago Ltd - with mounting debts of over $500,000 to 93 creditors - has put forward a proposal to creditors to stave off receivership or liquidation, following a more than 50% decline in home sales for the six months to March.

The liquidation of failed Dunedin private investment company Hurricane House has taken an unusual twist with the tendering of a $1 million life insurance policy of bankrupted Auckland developer Pat Rippin.

Listed L&M Energy, which last week raised $8.5 million to boost its southern coal-seam gas exploration in the South, plans to have a $2 million pilot production project operational in Ohai by September to measure gas flows.

Allpress Espresso's roastery and espresso bar near the University of Otago, in north Dunedin, has been rescheduled to open toward the end of the year.